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Brexit has forced staff at the Bank of England to do more with less as its new EU withdrawal unit piles on the work.

Funding pressures have forced departments to scrape together resources to meet demands of the Bank’s new Brexit team, minutes of its Court of Directors show.

The Court, which oversees the Bank’s performance, said the Old Lady of Threadneedle Street would be forced to operate “more like that of a professional services firm” if it is to cope with the “great deal” of work linked to leaving the EU.

Directors who asked about funding were told by Phil Evans, who is in charge of the EU Withdrawal Unit at the Bank, that “activity would for the time being have to be absorbed or found in...